Andra AP fonden cut its holdings in Mastercard Incorporated (NYSE:MA) by 10.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,101 shares of the credit services provider’s stock after selling 9,599 shares during the period. Andra AP fonden’s holdings in Mastercard were worth $11,734,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in MA. Vanguard Group Inc. grew its stake in Mastercard by 2.3% during the second quarter. Vanguard Group Inc. now owns 65,297,307 shares of the credit services provider’s stock worth $7,930,357,000 after buying an additional 1,490,267 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Mastercard by 784.3% in the 2nd quarter. Janus Henderson Group PLC now owns 16,870,229 shares of the credit services provider’s stock valued at $2,048,899,000 after purchasing an additional 14,962,583 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Mastercard by 15.8% in the 2nd quarter. Capital Research Global Investors now owns 12,685,589 shares of the credit services provider’s stock valued at $1,540,665,000 after purchasing an additional 1,729,179 shares in the last quarter. Capital World Investors boosted its stake in shares of Mastercard by 2.3% in the 2nd quarter. Capital World Investors now owns 12,675,652 shares of the credit services provider’s stock valued at $1,539,458,000 after purchasing an additional 289,488 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Mastercard by 6.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,174,892 shares of the credit services provider’s stock valued at $749,941,000 after purchasing an additional 347,768 shares in the last quarter. Institutional investors and hedge funds own 75.57% of the company’s stock.
In other news, Director Richard Haythornthwaite sold 5,000 shares of Mastercard stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $142.51, for a total value of $712,550.00. Following the completion of the sale, the director now owns 45,278 shares in the company, valued at approximately $6,452,567.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Fraccaro sold 5,800 shares of Mastercard stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $147.59, for a total transaction of $856,022.00. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
Mastercard (NYSE:MA) last released its quarterly earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. sell-side analysts forecast that Mastercard Incorporated will post 4.54 earnings per share for the current year.
Mastercard announced that its board has initiated a stock repurchase plan on Monday, December 4th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 9th will be issued a dividend of $0.25 per share. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 annualized dividend and a yield of 0.66%. Mastercard’s dividend payout ratio (DPR) is presently 20.51%.
A number of equities research analysts have recently weighed in on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $150.00 price target (up from $143.00) on shares of Mastercard in a research note on Friday, September 8th. Sanford C. Bernstein restated a “buy” rating and issued a $180.00 price target (up from $166.00) on shares of Mastercard in a research note on Monday, December 11th. Cowen reiterated a “buy” rating and issued a $137.00 price objective on shares of Mastercard in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Mastercard from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Guggenheim upgraded shares of Mastercard from a “neutral” rating to a “buy” rating and raised their price objective for the company from $135.00 to $153.00 in a report on Monday, September 11th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Mastercard has an average rating of “Buy” and an average target price of $159.59.
MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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